Toronto, Ontario; Atlanta, Georgia; Paris, France, March 16, 2022 (GLOBE NEWSWIRE) — Toronto, Paris, Atlanta — The Creative Destruction Lab’s Space Stream has become global, with two new sites in Atlanta and Paris. In addition, we will build a global network of space innovators and investors. world. This global program expands the range of venture opportunities that begin in this endless field.
The Creative Destruction Lab (CDL) offers a goal-based 9-month mentorship program for large, scalable science and technology-based start-ups. After four years of success at Spacestream’s Rotman School of Management at the University of Toronto in Toronto, Canada, Global Spacestream will expand to two additional CDL sites. Georgia Institute of Technology, Sheller Business College and HEC Paris in Atlanta, Georgia, USA. In Paris, France.
Atlanta offers one of the most powerful networks of space experts and scientists in the United States. Georgia Institute of Technology is one of the country’s top-ranked aerospace programs, attracting the most talented people working in space technology. Its location in the United States is especially important. The United States has more than 50% of the companies that make up the world’s space industry, and the US government spends more space than all other countries combined.
Paris offers a position as an international hub with HEC Paris, one of the best business schools in the world. Like the United States, the European Union is making exciting investments in the region’s space industry. The EU announced a € 1 billion space investment fund earlier this year. The fund will further attract venture capital groups investing in SMEs working on space technology and digital services using space data.
Toronto offers an existing community of CDL mentors and investors with extensive experience in teaching and funding space-based ventures, such as astronaut Chris Hadfield. “After orbiting the Earth 2,650 times, helping to discover space streams and leading more than 100 new space companies, I am now very excited to be part of the CDL-Space worldwide. “
Global space flow creates a bridge between two continents (North America and Europe) that have different landscapes in space exploration and commercialization. This means double and double potential for participating ventures.
This is a vital new capacity for areas using applications in areas such as telecommunications, climate and disaster management, but a relatively small number of companies are embarking on it each year.
“My long-term dream has always been space colonization,” said JP James, Chairman and Chief Investor of Hybe Financial Systems and mentor of CDL-Atlanta. “But the road from here to there requires a combination of expertise, entrepreneurship, capital, and government support. CDL connects all these components in an innovative way.”
“We are talking about the global market and the set of global players,” said CDL, who has been involved in various space projects, including training astronauts for NASA’s Neurolab Space Shuttle mission. Paris mentor Christine Toby said. “The universe is a relatively small sector and has some really special skills that are needed. If you don’t have a global perspective from the beginning in the universe sector, you’re limiting your horizons. “
Mentors in all three cities bring business experience, plus knowledge of their own space industry, venture capital ecosystem, and regulated environment.
Dr. Mark Costello, chair of the Georgia Institute of Technology’s Department of Aerospace Engineering, said this is an “incredibly exciting time” for space technology entrepreneurs as supported by CDL’s new global stream. Said. “Affordable access to space and the fusion of new technologies set the stage for many new business opportunities.”
Ventures developing upstream and downstream space technology are invited to apply. The areas of potential innovation are:
- Earth observation,
- Satellite communication,
- Location and navigation,
- Automation and space situation awareness,
- Moon shot.
What remains unchanged in this announcement is the proven methodology of CDL. Companies participating in CDL’s new Global Space Stream will participate in rigorous goal-based programs that are already helping companies like Wyvern launch.
Wyvern builds and deploys small satellites to collect high-quality hyperspectral images of the Earth for commercial applications. The co-founder was working part-time as a venture when the company participated in CDL’s first space program in Toronto in 2018. By the end of the nine-month program, Wyvern had expressed interest from 12 customers, including full-time founders, employees, advisory boards, and tens of millions of dollars worth of customers.
“Space is not a typical industry,” said Chris Robson, CEO of Wyvern.
“You can’t build a product in a garage or computer and send it by rocket. You have to be innovative about what you do to prove the value of your product to your customers and gain their traction. No. CDL helped us think about it. “
“We have grown significantly as a CDL company,” Robson added. “We really focused on the customers we sell to, their needs, and our long-term roadmap.”
He said CDL’s Space Stream will be even more convenient for ventures as it now has access to a variety of investors and customers in Canada, the United States and Europe.
Interested in transforming the space industry? Contact Rachael Harris, Engagement Director of Creative Destruction Lab, for potential partnerships.
About Creative Destruction Lab
Creative Destruction Lab (CDL) is a non-profit organization that provides goal-based programs to large, scalable, seed-stage science and technology-based companies. The nine-month program allows founders to learn from experienced entrepreneurs and increase their chances of success. Founded in 2012 by Professor Ajay Agrawal of the Rotman School of Management at the University of Toronto, the program has been expanded to 10 locations in four countries. Participating ventures have generated a stock value of $ 18 billion (CAD).
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The launch of the Global CDL Space Stream unleashes a new world of potential for the founder, the Canadian Business Journal.
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